I personally have little clue about the price direction on the short term.. with the various ongoing price manipulations that seem to be occurring and even the seemingly relatively speaking low volume.

It would be nice to get some high volume upward price action to bring us past $467, but I am having my doubts about how long it is going to take for such an event to occur because when we have fairly low trade volume with upward and downward girations, we have the sense that there is not a whole hell-a-va lot of passion out there regarding bitcoin pumping (to get us to move upwards), and when low volume is sustained, then the price is being controlled by a fairly small amount of capital, which means that BTC prices can be driven down with a few thousand coins dumped over a few hours.

Surely, the whales need more than a few thousand coins and capital to control bitcoin prices, but relatively speaking, it is not a lot when the volume is so low on an ongoing basis.

Accordingly, if there is high trade volume with upward price movement (for example, averaging more than 15k coins per day on Bitstamp for more than a week), then that level of trade volume signifies that we have a pretty decent BTC price battle going on (and some passion in the fight between the bears and the bulls)... otherwise if there is not a passionate battle, then little by little bears can control and manipulate and surprise with dumps...

To me, I kind of assess that we have not experienced such a sustained BTC price battle for more than 8 weeks... so can become a bit nerve racking.. to witness the bears kind of controlling and the FUD receiving too much attention... and the passion for upward movement is not quite high enough to cause upward umph.

Prior to 8 weeks ago, we had about 20 weeks of a decent and sustained trade volume which really was a price battle that brought us to our current approximate floating price (largely floating between the $360s and the $460s during this kind of waiting and see period.. maybe even a kind of consolidation range.. at least for the moment, until passion increases... which will come, sooner or later.. hopefully sooner... ).

Thank you! I think that sums up the past few weeks. Like you said, the volume is quite low. I'll see if the price will drop a little further

I think we'll see 410 again, this week. You guys think it could slip to 370-380 for a day and recover quickly? Too much support? I'd love that idea of buying them cheap

Lets be serious. Without china taking down the ban we wont be seeing moon-like prices for a long time.Positive news like businesses accepting BTC will have small impact on price. It will jump it a bit but then it will slowly dump again.

Eventually we will see 1000 again but without china accepting Btc it will most likely take a year or two

I'll be here to requote, just in case. Of course you can requote me, too!

The 24th was supposed to be the new ATH (NOT the start of progression towards the new ATH). Accordingly, short of some kind of miracle, we are NOT going to see a new ATH on the 24th... In my humble bumble opinion, it seems nearly impossible to get from here ($622) to a new ATH ($1,200 +) in less than 48 hours.

Who said that?

I really do NOT buy into these numerology type explanations or suggestions that future ATHs are replicas of past ATHs. Anyhow, my understanding is that the 24th was projected based on the number of days between ATHs... You cannot just make things up, and begin to change the scenario and to say that is when the progression towards the ATH is going to begin.

On the other hand, it makes sense that a new ATH will be delayed, somewhat, based on a variety of negative publicity and just some need to consolidate a little longer b/c BTC is just NOT ready, yet.

The 24th was supposed to be the new ATH (NOT the start of progression towards the new ATH). Accordingly, short of some kind of miracle, we are NOT going to see a new ATH on the 24th... In my humble bumble opinion, it seems nearly impossible to get from here ($622) to a new ATH ($1,200 +) in less than 48 hours.

Who said that?

pssh, stop it. You might prevent it from happening just by saying its gonna happen.

Guys, I didn't watch anything btc related the last ~2 weeks and I didn't even look up whats behind the last price increase (last 2 days). But I was thinking that everytime people get fresh money on their bank accounts, the price rices due to the same reason. Poeple spend money to buy btc, everytime a pay check arrives.

Anyone else thinks the same way?

Any "real" reason for the price increase? I'll bet we'll see another downward trend in the next week, reversing and increasing by at least 10% by the end of next month..

Someone should run an autocorrelation on the price. Such an influence would show peaks at 2 weeks and 30 days (Also at 1 week but there would be other potential explanations for that).

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for the past 4 months you could see an 10%+ increase every last day of the month to the next day. Source bitstamp on 1d. I had this feeling because I did buy everytime I received some fresh money. always at a premium.. but it's cool

Guys, I didn't watch anything btc related the last ~2 weeks and I didn't even look up whats behind the last price increase (last 2 days). But I was thinking that everytime people get fresh money on their bank accounts, the price rices due to the same reason. Poeple spend money to buy btc, everytime a pay check arrives.

Anyone else thinks the same way?

Any "real" reason for the price increase? I'll bet we'll see another downward trend in the next week, reversing and increasing by at least 10% by the end of next month..